Assenagon Asset Management S.A. Grows Stock Position in Incyte Corporation (NASDAQ:INCY)

Assenagon Asset Management S.A. increased its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 37.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,846 shares of the biopharmaceutical company’s stock after buying an additional 2,418 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Incyte were worth $536,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Quintet Private Bank Europe S.A. purchased a new position in shares of Incyte in the 4th quarter worth about $26,000. Raiffeisen Bank International AG purchased a new stake in shares of Incyte during the 4th quarter valued at about $34,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Incyte during the 4th quarter valued at about $42,000. NBC Securities Inc. raised its holdings in shares of Incyte by 88,200.0% during the 1st quarter. NBC Securities Inc. now owns 883 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 882 shares during the period. Finally, Huntington National Bank grew its stake in Incyte by 40.7% during the 4th quarter. Huntington National Bank now owns 934 shares of the biopharmaceutical company’s stock valued at $65,000 after purchasing an additional 270 shares in the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $68.27 on Friday. Incyte Corporation has a fifty-two week low of $53.56 and a fifty-two week high of $83.95. The business has a 50-day moving average of $63.24 and a two-hundred day moving average of $66.94. The stock has a market capitalization of $13.22 billion, a P/E ratio of 213.35, a P/E/G ratio of 0.57 and a beta of 0.67. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.04 and a quick ratio of 2.00.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.15. Incyte had a return on equity of 2.77% and a net margin of 0.48%. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $996.17 million. During the same quarter in the previous year, the firm earned $0.64 EPS. The firm’s revenue was up 19.5% compared to the same quarter last year. On average, equities research analysts predict that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on INCY shares. Morgan Stanley lowered their price objective on Incyte from $69.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday, March 24th. Wells Fargo & Company lifted their target price on Incyte from $58.00 to $59.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 30th. Citigroup reissued a “buy” rating on shares of Incyte in a research note on Tuesday, June 3rd. Wall Street Zen raised Incyte from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 30th. Finally, Royal Bank Of Canada lifted their target price on Incyte from $64.00 to $67.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $74.53.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.